Are We Richer than Our Parents Were? Absolute Income Mobility in Australia*

Kennedy, T; Siminski, P

Are We Richer than Our Parents Were? Absolute Income Mobility in Australia*

Kennedy, T Siminski, P

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Publisher:: Wiley
Publication Type:: Journal Article
Citation:: The Economic Record, 2022, 98, (320)
Issue Date:: 2022-10-29

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Field	Value	Language
dc.contributor.author	Kennedy, T
dc.contributor.author	Siminski, P https://orcid.org/0000-0002-3099-8049
dc.date.accessioned	2022-11-30T00:19:19Z
dc.date.available	2022-11-30T00:19:19Z
dc.date.issued	2022-10-29
dc.identifier.citation	The Economic Record, 2022, 98, (320)
dc.identifier.issn	0013-0249
dc.identifier.issn	1475-4932
dc.identifier.uri	http://hdl.handle.net/10453/163845
dc.description.abstract	We conduct the first dedicated study of absolute income mobility in Australia for the period 1950–2019. Approximately two-thirds of 30–34-year-olds have higher real incomes than their parents did at the same age, and this has been stable for 25 years. This is a high level of mobility among countries where estimates are available. Nevertheless, mobility has declined. Over 80 per cent of baby boomers had higher incomes than their parents. Some two-thirds of this decline is due to lower income growth. The remainder is due to rising inequality. The mobility estimate is higher (78 per cent) when income is adjusted (equivalised) for family size.
dc.language	English
dc.publisher	Wiley
dc.relation.ispartof	The Economic Record
dc.relation.isbasedon	10.1111/1475-4932.12641
dc.rights	info:eu-repo/semantics/embargoedAccess
dc.subject	14 Economics, 15 Commerce, Management, Tourism and Services
dc.subject.classification	Economics
dc.title	Are We Richer than Our Parents Were? Absolute Income Mobility in Australia*
dc.type	Journal Article
utslib.citation.volume	98
utslib.for	14 Economics
utslib.for	15 Commerce, Management, Tourism and Services
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Economics Discipline
utslib.copyright.status	open_access	*
pubs.consider-herdc	false
utslib.copyright.embargo	2024-10-29T00:00:00+1000Z
dc.date.updated	2022-11-30T00:19:18Z
pubs.issue	320
pubs.publication-status	Published
pubs.volume	98
utslib.citation.issue	320

Abstract:

We conduct the first dedicated study of absolute income mobility in Australia for the period 1950–2019. Approximately two-thirds of 30–34-year-olds have higher real incomes than their parents did at the same age, and this has been stable for 25 years. This is a high level of mobility among countries where estimates are available. Nevertheless, mobility has declined. Over 80 per cent of baby boomers had higher incomes than their parents. Some two-thirds of this decline is due to lower income growth. The remainder is due to rising inequality. The mobility estimate is higher (78 per cent) when income is adjusted (equivalised) for family size.

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http://hdl.handle.net/10453/163845